Hilcorp Energy

Hilcorp Resources sold its Eagle Ford Shale assets to Marathon Oil in June of 2011. See Marathon Oil additional details.

Hilcorp is a privately held E&P company with operations across the US. The company entered the Eagle Ford Shale through existing properties and early leasing. The company leveraged its experience into a JV with KKR and then a complete divestiture to Marathon Oil.

Hilcorp and KKR formed a partnership in June of 2010 whereby KKR earned a 40% interest in 100,000 acres for a commitment of $400 million. One year later, the partnership sold 141,000 net acres to Marathon Oil for $3.5 billion or almost $25,000 per acre. When considering the properties were producing 7,000 boe/d, industry experts peg acreage value paid at $21,000 per acre.

Hilcorp Energy still manages its other assets from its headquarters in Houston, Texas. Its primary operating areas are the Gulf Coast region of the United States and Wyoming’s Powder River Basin. Hilcorp remains one of the largest private E&P companies in the US. The company is expected to continue its acquire and exploit strategy.